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Healthcare Staffing - Executive Summary Q1 2019

Healthcare

Q1 2019

Amid the growing economy and the tight labor market, the Healthcare Staffing industry has flourished. Healthcare added an impressive 346,000 jobs to the US economy in 2018, a 21.8% increase from the 284,000 gained in 2017, according to the US Bureau of Labor Statistics.

The US is projected to see a shortage of up to 120,000 physicians by the year 2030, according to the Association of American Medical Colleges. Contributing factors to the shortage include the trend toward physicians working fewer hours, the aging population (which includes retiring physicians), and intensified regulatory burdens. A striking 54% of respondents to Medical Group Management Association’s 2018 survey reported that administrative burnout was a contributing factor to their likelihood of retirement within the next five years. As this shortage intensifies, physician staffing companies will continue to be desired merger and acquisition targets in 2019.